A monopsonist is
A) a single buyer.
B) a single seller.
C) a unionized labor market.
D) a non-profit-maximizing firm.
Answer: A
You might also like to view...
Money provides a way to transfer wealth into the future. This function of money is known as
A) medium of exchange. B) unit of accounting. C) store of value. D) standard of deferred payment.
If demand is elastic
A) then it changes very little in response to a price change. B) then it changes significantly in response to a price change. C) then demand is zero. D) then demand is infinite.
China's income inequality as measured by the Gini coefficient
a. has about doubled since MaoÕs time b. is greater than South Korea and Taiwan c. is low because China is a socialist country d. is less than that of Europe e. a and b are correct
From 1970 to the mid-1990s, the relative price of crude petroleum
A) steadily increased. B) steadily decreased. C) increased dramatically, then decreased dramatically. D) decreased dramatically, then increased dramatically. E) remained more or less the same.